Checkpoint Therapeutics Announces Proposed Public Offering of Common Stock

Checkpoint Therapeutics (Nasdaq:CKPT), a Fortress Biotech (Nasdaq:FBIO) company, announced that it is proposing to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. Checkpoint expects to grant the underwriter a 45-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover over-allotments, if any. All of the shares of common stock are being offered by the Company.

As quoted in the press release:

Checkpoint intends to use the net proceeds from the offering primarily for the continued development of its product candidates, the potential in-license, acquisition, development and commercialization of other pharmaceutical products and for general corporate purposes. The final terms of the offering will depend on market and other conditions at the time of pricing, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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